ITAT
Stay updated with the latest ITAT judgments, orders, and appellate rulings impacting income tax matters in India.
![Amounts Credited in Books of Accounts Lack Genuineness: ITAT upholds Addition made u/s 68 [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Amounts-Books-of-Accounts-ITAT-taxscan.jpg "Amounts Credited in Books of Accounts Lack Genuineness: ITAT upholds Addition made u/s 68 [Read Order]")
Amounts Credited in Books of Accounts Lack Genuineness: ITAT upholds Addition made u/s 68 [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal presided by Mr. Prashant Maharishi, AMand Mr. Sandeep Singh Karhail, JM has held that amounts...
![Delay in filing Appeal due to Default of Employee: ITAT directs for fresh Adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Appeal-Employee-ITAT-adjudication-taxscan.jpg "Delay in filing Appeal due to Default of Employee: ITAT directs for fresh Adjudication [Read Order]")
![Subsidy received by Assessee under Package Scheme of Incentives is a Capital Receipt and Not Chargeable to Tax: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Assessee-Package-Scheme-Incentives-Capital-Receipt-Tax-ITAT-taxscan.jpg "Subsidy received by Assessee under Package Scheme of Incentives is a Capital Receipt and Not Chargeable to Tax: ITAT [Read Order]")
![Income Tax Penalty cannot be levied for Bonafide and Inadvertent Mistake resulted in Excess Claim of Deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/IncomeTax-Penalty-Bonafide-Claim-Deduction-ITAT-taxscan.jpeg "Income Tax Penalty cannot be levied for Bonafide and Inadvertent Mistake resulted in Excess Claim of Deduction: ITAT [Read Order]")
![Addition u/s 69B will sustain in absence of Authenticity of Gift received was proven with Corroborative evidence: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/gift-Corroborative-evidence-ITAT-taxscan.jpg "Addition u/s 69B will sustain in absence of Authenticity of Gift received was proven with Corroborative evidence: ITAT [Read Order]")
Assessee could not be Penalized by denying the Exemption for Mere Technical Violation: ITAT allows Exemption u/s 10(23B) [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal has held that assessee could not be penalized by denying the exemption for mere technical violation and allow exemption u/s 10(23B). The appellant,...
![Assessee could not be Penalized by denying the Exemption for Mere Technical Violation: ITAT allows Exemption u/s 10(23B) [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Assessee-Exemption-Technical-Violation-ITAT-taxscan.jpg "Assessee could not be Penalized by denying the Exemption for Mere Technical Violation: ITAT allows Exemption u/s 10(23B) [Read Order]")
Unabsorbed Depreciation should be allowed to be carried forward and set off against Assessable Income of Subsequent Year notwithstanding fact that Business in respect of which it arose ceased to exist in year of such set-off: ITAT
The Income Tax Appellate Tribunal (ITAT), Ahmedabad bench consisting of Pramod Kumar, Vice President, and Siddhartha Nautiyal, Judicial Member held that where asset purchased by the assessee has been...
Late Deposit of Employees contribution of PF but before due date of Filing Income Tax Return: ITAT sets aside disallowance by AO
The Income Tax Appellate Tribunal (ITAT), Mumbai bench consisting of Prashant Maharishi, Accountant Member and Kavitha Rajagopal, Judicial Member set aside disallowance made by Assessing Officer (AO)...
Export entitlements (MEIS) and Duty Drawback of Promotion Scheme is Income assessable under 'Profits or Gains from Business or Profession': ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Vishakhapatnam bench consisting of Duvvuru R L Reddy, Judicial Member, and S Balakrishnan, Accountant Member held that export entitlements (MEIS) and duty...
![Export entitlements (MEIS) and Duty Drawback of Promotion Scheme is Income assessable under Profits or Gains from Business or Profession: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Export-promotion-scheme-income-profits-gains-business-profession-ITAT-taxscan.jpg "Export entitlements (MEIS) and Duty Drawback of Promotion Scheme is Income assessable under Profits or Gains from Business or Profession: ITAT [Read Order]")
ITAT sets aside Disallowance by AO of set off for treating Share Trading as Short Term Capital Loss [Read Order]
The Income Tax Appellate Tribunal (ITAT), Ahmedabad bench consisting of Pramod Kumar, Vice President and Siddhartha Nautiyal, Judicial Member held that to consider share transaction as business...
![ITAT sets aside Disallowance by AO of set off for treating Share Trading as Short Term Capital Loss [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/ITAT-disallowance-AO-share-trading-short-term-capital-loss-taxscan.jpg "ITAT sets aside Disallowance by AO of set off for treating Share Trading as Short Term Capital Loss [Read Order]")
Scope of Limited Scrutiny is Confined: ITAT quashes Revision since Original Assessment was initiated to Cash Deposits during Demonetization [Read Order]
Quashing a revision order passed under section 263 of the Income Tax Act, 1961, the Income Tax Appellate Tribunal (ITAT), Jaipur bench has held that the scope of limited scrutiny is confined to its...
![Scope of Limited Scrutiny is Confined: ITAT quashes Revision since Original Assessment was initiated to Cash Deposits during Demonetization [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Scrutiny-ITAT-Assessment-Cash-Deposits-Demonetization-taxscan.jpg "Scope of Limited Scrutiny is Confined: ITAT quashes Revision since Original Assessment was initiated to Cash Deposits during Demonetization [Read Order]")
![Set Off of Business Loss by Showing Bogus Transactions: ITAT upholds Income Tax Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Business-Loss-Bogus-Transactions-ITAT-Income-Tax-Penalty-taxscan.jpeg "Set Off of Business Loss by Showing Bogus Transactions: ITAT upholds Income Tax Penalty [Read Order]")